Corient Private Wealth LLC Has $2.01 Million Position in Kadant Inc. (NYSE:KAI)

Corient Private Wealth LLC reduced its stake in shares of Kadant Inc. (NYSE:KAI - Free Report) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,831 shares of the industrial products company's stock after selling 1,004 shares during the quarter. Corient Private Wealth LLC's holdings in Kadant were worth $2,012,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Kadant by 1.1% in the 3rd quarter. FMR LLC now owns 144,344 shares of the industrial products company's stock valued at $48,788,000 after purchasing an additional 1,629 shares in the last quarter. Dudley & Shanley Inc. increased its position in shares of Kadant by 196.7% during the third quarter. Dudley & Shanley Inc. now owns 32,500 shares of the industrial products company's stock worth $10,985,000 after purchasing an additional 21,545 shares in the last quarter. HighTower Advisors LLC raised its position in Kadant by 120.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,618 shares of the industrial products company's stock valued at $546,000 after purchasing an additional 883 shares during the last quarter. Synovus Financial Corp acquired a new position in Kadant in the 3rd quarter valued at about $585,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Kadant by 60.3% during the third quarter. JPMorgan Chase & Co. now owns 64,722 shares of the industrial products company's stock worth $21,876,000 after purchasing an additional 24,358 shares during the period. Institutional investors own 96.13% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an "outperform" rating and set a $410.00 price objective on shares of Kadant in a report on Friday, February 14th.

Kadant Trading Up 1.9 %

KAI stock traded up $6.43 during midday trading on Thursday, reaching $351.95. 228,141 shares of the company's stock traded hands, compared to its average volume of 98,185. Kadant Inc. has a fifty-two week low of $249.51 and a fifty-two week high of $429.95. The company has a market capitalization of $4.14 billion, a P/E ratio of 37.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 1.46. The business has a 50-day moving average price of $367.22 and a two-hundred day moving average price of $359.47.

Kadant (NYSE:KAI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.17. Kadant had a net margin of 10.59% and a return on equity of 14.66%. Equities research analysts forecast that Kadant Inc. will post 9.97 EPS for the current fiscal year.

Kadant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.34 per share. This is a boost from Kadant's previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, April 9th. Kadant's payout ratio is currently 14.35%.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.